Firm: All
Practice Industry: Financial Services, Transportation
Region: All
Country/ State: All
Tag: All

For better or worse, lenders have become increasingly familiar with the strange dynamic that is the post-bankruptcy minefield created by their borrowers filing a bankruptcy petition. Immediately, lenders begin thinking about how they can minimize the write-off, how they can reduce exposure, how they can avoid violations of the automatic stay, whether they can convince a borrower to reaffirm debt, and many other questions that often must be analyzed situationally ...

Virtual currencies are once again at the forefront of discussion about top issues facing community banks and the financial industry as a whole. The Independent Community Bankers of America (“ICBA”), a trade association representing more than 6,500 community banks, recently published its list of top issues for the fourth quarter of 2015. Among them were the risks associated with virtual currencies ...

Haynes and Boone, LLP | November 2015

The Delaware Division of Corporations (the “Division”) recently announced that effective December 1, 2015, its Uniform Commercial Code (“UCC”) filing office will no longer accept paper UCC filings submitted directly to the State of Delaware via regular mail, courier or fax. The Division will instead require that all UCC filings be submitted to the Division electronically.To read the full alert, click here ...

The September 2015 issue of the International Financial Law Review (IFLR) included an international briefing article by SyCipLaw partner Arlene M. Maneja entitled “Competition law enacted.”Download a PDF copy of the article or read the article online at the IFLR website ...

The Philippine chapter of Getting the Deal Through: Islamic Finance & Markets 2016 was contributed by SyCipLaw Managing Partner Rafael A. Morales with Amer Hussein N. Mambuay. The chapter includes information on policies, legislation and supervision covering Islamic finance in the Philippines, contracting concepts, products, and updates and trends ...

Karanovic & Partners | November 2015

As of 3 February 2016, the new Law on Consensual Financial Restructuring (“Law”) will introduce an improved framework for voluntary debt restructuring in Serbia (“Restructuring”). The Law was adopted as a part of a national strategy to address the increasing number of non-performing loans in the country, which was adopted in August 2015 (“Strategy”).[1] The Law will replace the existing Law on Consensual Financial Restructuring of 2011, which produced modest results in practice ...

O'Neal Webster | November 2015

To incubate is to keep something in a suitable environment for a term where it can develop to its full potential. Increasingly, the concept is being applied to hedge funds, where “to incubate” implies structured conditions for the development and verification of investment strategies over time. As such, an incubator fund is ideal for start-up and emerging managers who do not have much capital but aim to attract greater sums of capital in the near future ...

Lavery Lawyers | November 2015

The Canada Public Sector Pension Investment Board launches a lawsuit against Saba Capital: Lessons for fund managers when valuing illiquid securitiesOn September 25, 2015 the Public Sector Pension Investment Board (the “PSP Investment Board”) filed a lawsuit before the New York State Supreme Court against Saba Capital, the hedge fund managed by Boaz Weinstein (the former co-chief of the credit business at Deutsche Bank AG), for allegedly “manipulating the value” of certain of Saba Capital’s inve

Lavery Lawyers | October 2015

CANADIAN INVESTMENTS IN CUBATheHelms-Burton Actand its risks for Canadian investors in CubaRecommandations for investorsProspects in the face of the thaw in U.S ...

With more than three decades of experience in banking in North Carolina and Virginia, Park Sterling’s CEO James C. Cherry has a lot to say about the state of community banks and their future. He graciously took the time to address his successes, leadership philosophy, and some of the best advice he ever received. It is well worth your time to read. Park Sterling, a regional, community-focused financial services company with approximately $2 ...

International Financial Law Review (IFLR) in association with Euromoney Yearbooks recently published the Global Banking & Financial Policy Review 2015/2016. The Philippine section was contributed by SyCipLaw Managing Partner Rafael A. Morales. The section is an Overview of Legal and Regulatory Developments in the Philippines such as the Liberalization of Financial Sector, Islamic Banking and Finance, Financial Consumer Protection, and Prospects ...

Cyber-risk is a witch’s brew of reputational, operational, legal and financial dangers. This toxic combination exposes a financial institution to a potentially existential hazard when an intrusion occurs. The only way to mitigate (because an intrusion cannot be prevented) is proper planning. To quote Benjamin Franklin, “If you fail to plan, then you are planning to fail.” Cyberattacks are not only increasing in sophistication, but are increasingly focusing on smaller financial institutions ...

Makarim & Taira S. | October 2015

Under Minister of Transportation of the Republic of Indonesia Regulation No. PM 3 of 2015 dated 7 January 2015 on the Implementation of One-Stop Integrated Services in the field of Transportation at the Indonesia Investment Coordinating Board (BKPM) (“Regulation 3/2015”), the Minister of Transportation has now delegated its authority to issue transportation business licenses for capital investment to the Head of BKPM. The Business Licenses which have been delegated are: 1 ...

Makarim & Taira S. | October 2015

Under Article 18 (1) of Law No. 7 of 1983 on Income Tax (as lastly amended by Law No. 36 of 2008 – “Income Tax Law”), the Minister of Finance (“MOF”) is authorized to determine the debt to equity ratio (“DER”) of corporate taxpayers for the income tax calculation purposes. To implement this, on 9 September 2015, the MOF issued MOF Regulation No. 169/PMK/010/2015 on the Determination of a Company’s Debt to Equity Ratio for Income Tax Calculation Purposes (“MOF Regulation 169/2015”) ...

Makarim & Taira S. | October 2015

In an attempt to assist the stabilization of the Indonesian currency, Bank Indonesia (BI) changed the limit of the maximum value of foreign currency (US$) purchased through a spot transaction which is done without a specific purpose (underlying documents), from US$100,000 per month for each customer/foreign party to US$25,000 or equivalent per month for each customer. This new limit is set out under Bank Indonesia Regulation No ...

Lavery Lawyers | October 2015

NEW REQUIREMENTS FOR PRIVATE PLACEMENTS(“Regulation 45-106”)OBLIGATION TO KNOW YOUR INVESTOR WELLIssuer’s obligations:Ask questionsVerify the investor’s declared income and assetsConfirm the relationship between the investor and the issuerObtain proof of the investor’s statusKeep the documents on file

View More

Jeantet | October 2015

“Macron law”: two further steps into banking disintermediation and collaborative financingJean-François Adelle, partner, Finance, JeantetAssociés The French law on Growth, Activity and Equal Economic Opportunities of 6 August 2015, named Macron law after the French minister of the economy, finances and industry, includes a vast array of measures aimed at undoing identified blockages in French economic, financial, legal profession and labour regulations ...

ALTIUS/Tiberghien | October 2015

Regulation 2015/760 of 29 April 2015 on European Long-Term Investment Funds was published in the Official Journal of the European Union on 19 May 2015 (the “ELTIF Regulation”). The ELTIF Regulation will be binding in its entirety and directly applicable in all Member States from 9 December 2015. Therefore the EU Member States do not need to make any implementation legislation (as would be the case with an EU Directive) ...

The Philippine section of Getting the Deal Through: Aviation Finance & Leasing 2015 was contributed by SyCipLaw senior associate Bhong Paulo A. Macasaet with associates Aldous Benjamin C. Camiso, Diana S. Gervacio, and Maricar G. Ramos ...

The North Carolina Supreme Court recently handed down the final word in a dispute over whether guarantors get the benefit of the state’s anti-deficiency statute after the lender bids on and buys the real property at a foreclosure sale. And that word is that the guarantors can use the anti-deficiency statute, whether or not the primary borrower is a party to the lawsuit against the guarantors on the deficiency. The case, High Point Bank and Trust Company v ...

From the financial sector to the healthcare industry, and even the security business itself, hackers are creeping their way into business data systems and pilfering personal information. For financial institutions, security measures to prevent attacks are not foreign. Nor is the need for a response plan in case preventative measures fail ...

A recent decision of the Supreme Court of the United States may make it easier for borrowers to claim discrimination when denied a loan. In late June 2015, the Court addressed whether lawsuits brought under the Fair Housing Act (“FHA”)[1] required a plaintiff to show that the defendant intentionally discriminated against him or her. The Court held that the FHA does not require that ...

PLMJ | September 2015

The long-awaited Implementing Decree no. 15-A/2015 of 5 November was published in the official gazette Diário da República on 2 September 2015 and is already in force1. This new Implementing Decree makes the third amendment to Implementing Decree no ...

Lavery Lawyers | September 2015

After eight years of operation, the International Registry established pursuant to the Cape Town Convention and the Aircraft Protocol (in force in Quebec since April 1, 2013) has undergone a significant update. The Registry’s website has undergone a complete overhaul in two phases, the first of which was launched in September 2013 ...

Lavery Lawyers | September 2015

Lavery closely monitors the development of class actions dealing with consumer law and is committed to keeping the business community informed of the latest developments in this area of the law by regularly publishing newsletters dealing with new case law or legislative changes which may impact, influence, even transform the practices in this area. The courts of Quebec recently dealt with two issues of interest in the context of two class actions instituted by consumers ...